Southern Picks Barry Over Bowers for New HQ Site

ATLANTA-There are winners and losers in Southern Co.’s decision to sign a 12-year, 130,000-sf lease at an office tower that hasn’t even broken ground yet Downtown.

The obvious winner is Barry Real Estate Cos. which plans to construct a $50 million, 14-story, 260,000-sf building in fall 2005. The project will overlook Centennial Olympic Park and be about four blocks from the planned $200 million Georgia Aquarium scheduled to open in fall 2005 and the planned $100 million World of Coca-Cola museum. The two-acre tower site is at Spring and Alexander streets near the Civic Center MARTA station.

Southern, the Atlanta parent of Georgia Power, picked Barry over Richard Bowers & Co., owner of the 22-story, 325,000-sf 270 Peachtree St. Building where Southern has been the anchor tenant since 1995, occupying 162,500 sf. Southern’s 10-year lease at the 43-year-old Bowers building, also called the Southern Company Center, expired in December.